Himal Energy acquires more BKPC shares

Himal Energy acquires more BKPC shares
eKantipur.com, 28-Mar-07

Himal International Energy Private Limited (HIEPL) has acquired another 10 percent shares in Bhote Koshi Power Company (BKPC) from International Finance Corporation (IFC).

Following the deal sealed on Wednesday, HIEPL, along with its sister concern - Himal International Power Corp, now owns 95 percent equity in BKPC, states a press statement issued today.

The remaining five percent shares are owned by Montgomery Watson Harza, an American engineering company.

The shares were purchased as per the agreement reached between IFC and HIEPL in March last year, states the release.

Bhote Koshi Power Project, a 36-megawatt run-of-the-river hydropower project situated in Sindhupalchowk district, was commissioned in January 2001 with a total investment of US$ 98 million.

BKPC, which is managed by Tara Management Private Limited, is selling power to Nepal Electricity Authority (NEA), under a power purchase agreement.